Song Eon-seok, floor leader of the People Power Party, speaks at a news conference at the National Assembly on the 22nd. [Photo=Yonhap]
Song Eon-seok, floor leader of the People Power Party, on the 22nd took aim at what he called risks tied to the Lee Jae-myung government’s real estate policy and Unification Minister Jeong Dong-young. He urged a fundamental shift in housing policy and called for Jeong’s immediate dismissal.
At a news conference at the National Assembly, Song said the government’s efforts to curb housing demand have reduced listings and transactions and produced “various side effects.”
He pointed to the period after the government tightened household lending rules in the so-called June 27 measures last year. Over the following nine months, Seoul’s apartment sales price index rose 11.1%, more than double the 4.9% increase in the nine months before the rules were tightened, he said. Over the same period, Seoul’s jeonse supply-demand index and monthly rent price index rose 18.1% and 5.8%, respectively, which he said signaled a sharp deterioration in rental-market indicators.
“In a market structure of demand suppression, delayed supply and weakened transactions, we are only seeing adverse effects: higher prices, fewer jeonse leases and heavier monthly rent burdens,” Song said. He added that “balloon effects” were spreading beyond Gangnam to areas such as Dongjak, Seodaemun and Gangseo, and into nearby cities including Gwangmyeong, Seongnam and Hanam.
Song called for a major easing of loan restrictions for would-be homeowners without a house, and for withdrawing what he described as signals that fuel instability, including abolishing long-term holding tax deductions and strengthening property holding taxes. He also urged supply measures such as speeding up redevelopment of multi-family homes in central areas and easing regulations in height-restricted zones.
The People Power Party said it plans to pursue an expanded supply policy in Seoul if Oh Se-hoon, its candidate for Seoul mayor in the June 3 local elections, wins, aiming to enable groundbreaking for 310,000 housing units in the city by 2031.
Song also demanded personnel action against Jeong over remarks about “North Korea’s constituent nuclear facilities.” “A minister should not make uncertain statements based on claims raised in the private sector,” Song said, adding that only officially recognized information should be cited. He said Jeong had ended up acting “not as the Republic of Korea’s unification minister, but like North Korea’s United Front Department minister.”
Song called on the government to disclose in detail whether the commander of U.S. Forces Korea and a U.S. assistant secretary of state visited South Korea’s defense and foreign ministries, respectively, to protest Jeong’s remarks. “This issue will not be resolved by blindly defending Minister Jeong,” Song said. “He should be dismissed immediately.”
Lawmakers from the People Power Party on the National Assembly’s Foreign Affairs and Unification Committee also held a separate news conference, calling for an emergency committee inquiry, Jeong’s immediate removal, and efforts to restore the South Korea-U.S. alliance and normalize diplomacy and security policy. Rep. Kim Geon, a former diplomat, told reporters afterward that when citing private-sector claims, a minister must be clear, but Jeong spoke as if it were an objective fact. He said imprecision in discussing intelligence was a serious problem.
Separately, asked about calls in some quarters for an early floor leader election, Song said the party should focus its strength on key tasks such as nominating candidates for National Assembly by-elections held alongside the local elections. He said he would serve out his term and devote his remaining time to winning the elections.
At a news conference at the National Assembly, Song said the government’s efforts to curb housing demand have reduced listings and transactions and produced “various side effects.”
He pointed to the period after the government tightened household lending rules in the so-called June 27 measures last year. Over the following nine months, Seoul’s apartment sales price index rose 11.1%, more than double the 4.9% increase in the nine months before the rules were tightened, he said. Over the same period, Seoul’s jeonse supply-demand index and monthly rent price index rose 18.1% and 5.8%, respectively, which he said signaled a sharp deterioration in rental-market indicators.
“In a market structure of demand suppression, delayed supply and weakened transactions, we are only seeing adverse effects: higher prices, fewer jeonse leases and heavier monthly rent burdens,” Song said. He added that “balloon effects” were spreading beyond Gangnam to areas such as Dongjak, Seodaemun and Gangseo, and into nearby cities including Gwangmyeong, Seongnam and Hanam.
Song called for a major easing of loan restrictions for would-be homeowners without a house, and for withdrawing what he described as signals that fuel instability, including abolishing long-term holding tax deductions and strengthening property holding taxes. He also urged supply measures such as speeding up redevelopment of multi-family homes in central areas and easing regulations in height-restricted zones.
The People Power Party said it plans to pursue an expanded supply policy in Seoul if Oh Se-hoon, its candidate for Seoul mayor in the June 3 local elections, wins, aiming to enable groundbreaking for 310,000 housing units in the city by 2031.
Song also demanded personnel action against Jeong over remarks about “North Korea’s constituent nuclear facilities.” “A minister should not make uncertain statements based on claims raised in the private sector,” Song said, adding that only officially recognized information should be cited. He said Jeong had ended up acting “not as the Republic of Korea’s unification minister, but like North Korea’s United Front Department minister.”
Song called on the government to disclose in detail whether the commander of U.S. Forces Korea and a U.S. assistant secretary of state visited South Korea’s defense and foreign ministries, respectively, to protest Jeong’s remarks. “This issue will not be resolved by blindly defending Minister Jeong,” Song said. “He should be dismissed immediately.”
Lawmakers from the People Power Party on the National Assembly’s Foreign Affairs and Unification Committee also held a separate news conference, calling for an emergency committee inquiry, Jeong’s immediate removal, and efforts to restore the South Korea-U.S. alliance and normalize diplomacy and security policy. Rep. Kim Geon, a former diplomat, told reporters afterward that when citing private-sector claims, a minister must be clear, but Jeong spoke as if it were an objective fact. He said imprecision in discussing intelligence was a serious problem.
Separately, asked about calls in some quarters for an early floor leader election, Song said the party should focus its strength on key tasks such as nominating candidates for National Assembly by-elections held alongside the local elections. He said he would serve out his term and devote his remaining time to winning the elections.
* This article has been translated by AI.
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